Sasol scores ‘own goal’ as climate pressure mounts in South Africa

Sasol, South Africa’s second-biggest polluter, angered some of its investors by refusing to put a resolution on its response to climate change to shareholders and could face legal challenges if it continues to refuse votes on the issue. Sasol dismissed a request by some investors, including Old Mutual Investment Group, to table the resolution that demanded more clarity on its greenhouse-gas emissions and reduction targets, at its annual general meeting on November 27. That contrasts with Standard Bank Group and FirstRand, which have become the first South African companies to allow climate-risk resolutions to be voted on by shareholders.